Massive Transformation Was Forced Upon Us In 2020: CVL Srinivas, WPP India

The suddenness of change due to the global health crisis not only led to uncertainty but also came with uneven impact across markets and sectors. The result of this was a unique recession. “They say events such as these happen once in a life-time, but every challenge also presents opportunities,” states CVL Srinivas, Country Manager – India, WPP.

Srinivas asserts that tough times were also “great to reinvent and reset plans” to become agile. “Massive transformation was forced upon us in 2020. Some of these changes may have happened eventually but the pandemic fast tracked them. Whether it was in our interactions, the way we consume media, shop, work or even aspects such as healthcare and education. However, it is still not clear what among these will stick in the future,” reflects Srinivas.

He explains that while there was a skew towards digital media consumption, TV viewership also shot up in India during the lockdown. Even as some degree of stabilisation has come in, marketers and agencies will continue to need to keep a closer eye on the ball to swiftly respond to changes.

Irrespective of whether 2021 will bring a new normal or a never normal, it would require businesses to find the balance between core and non-core capabilities, between speed and value, intuition and data, touch and tech, and purpose and profit. “Managing both side of the spectrum will be crucial,” advises Srinivas.

People First

The WPP India Country Manager echoes the school of thought that consumers are eager to get back to normal life, whether it is going back to office, shopping, or social activities. The eagerness to signals the alive and kicking consumer spirit.

The people parameter per se – whether it is employees, consumers or the larger community because of which businesses exist in the first place – is the most important starting point. “This area needs to be dialed up the most. At WPP, we have over-indexed our time on this because this is the only way we can come out stronger at the end of the crisis,” Srinivas informs. This again is a reminder that consumer shift is now towards brands that are doing good.

Srinivas also points out towards eyeing increased return on investment (ROI) as more advertising monies get pumped in digital media. Digital media, in comparison to traditional media, should have been easier to measure. However, marketers and agencies still lacked models for this. The pandemic has changed this as well. “We saw work during the pandemic where one could quantify the impact. And we will see more such cases of using technology, data and micro-targeting to build campaigns that deliver extremely well on performance,” Srinivas comments.

He signs off by cautioning that marketers need to be commercially savvy, given the challenges on resources and the need to try new things. 2020 has reiterated the need to go beyond traditional advertising and methods. Focussing on customer experience, commerce and technology will be a differentiator in the future. “We are really stepping up our efforts in this area as marketers shift their orientation and thinking,” Srinivas states.